Sales of new passenger cars and LCVs in Russia increased by 10.6% in July, fuelling the country’s robust recovery in the auto sector.
Among the top ten bestselling models so far, all models were locally produced.
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July sales rose 13,796 sold units to reach 143,452 cars according to the AEB Automobile Manufacturers Committee (AEB AMC). This year from January to July, 992,673 cars were sold.
“No fundamental change in July – market sales continue to recover at a comfortable double-digit pace, for the 15th consecutive month now,” said AEB Automobile Manufacturers Committee chairman, Joerg Schreiber.
“Main driver of growth remains the continuous positive trend in consumer confidence, encouraging customers to finally exchange their older car for a new one.”
Four years ago Russia numbers were catastrophically affected by a cocktail of international sanctions, low oil prices, soaring inflation and credit access difficulties, but apart from continuing foreign opprobrium, the economic outlook has significantly improved, coupled with a major stimulus from The Kremlin.
